Global X FinTech ETF (NASDAQ:FINX) Stock Falls 2.8% – Here’s Why

Global X FinTech ETF (NASDAQ:FINX) fell 2.8% during trading on Thursday. The company traded as low as $23.92 and last traded at $23.93. Approximately 23,143 shares traded hands during trading, a decline of 70% from the average daily volume of 76,805 shares. The stock had previously closed at $24.63.

Global X FinTech ETF Trading Down 2.8%

The stock has a fifty day moving average of $24.99 and a two-hundred day moving average of $25.13. The stock has a market capitalization of $148.37 million, a price-to-earnings ratio of 19.54 and a beta of 1.55.

Hedge Funds Weigh In On Global X FinTech ETF

Institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new position in shares of Global X FinTech ETF during the second quarter valued at $1,959,000. RPg Family Wealth Advisory LLC bought a new stake in shares of Global X FinTech ETF in the 2nd quarter valued at about $377,000. Risk Paradigm Group LLC acquired a new position in Global X FinTech ETF during the second quarter valued at approximately $377,000. Stelac Advisory Services LLC bought a new stake in Global X FinTech ETF in the third quarter valued at approximately $327,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Global X FinTech ETF in the third quarter worth $207,000.

About Global X FinTech ETF

The Global X FinTech ETF (FINX) is an exchange-traded fund that is based on the Indxx Global Fintech Thematic index, a market-cap-weighted index of companies in developed markets that derive significant revenues from providing financial technology products and services. FINX was launched on Sep 12, 2016 and is managed by Global X.